Dollar Gains as US Inflation Data Bolsters Fed Rate-Hike Bets
The dollar strengthened against major currencies after hotter-than-expected US inflation bolstered expectations of a Federal Reserve rate increase next month. The Labor Department said the Consumer Price Index rose 0.4%.
By Chibuike OguhThe dollar strengthened against major currencies on Tuesday after hotter-than-expected US inflation data bolstered expectations that the Federal Reserve would raise borrowing costs next month.Data from the US Labor Department showed that the Consumer Price Index increased 0.4% last…